2025-11-14T09:49:54+00:00 2024-12-31 440160260 Forvis Mazars LLP 255 South Orange Avenue Suite 600 Orlando FL 32801 990 2024-01-01 631169107 Redstone Village FKA REDSTONE MILITARY RETIREMENT REDS 2568816717 12000 TURNMEYER DRIVE HUNTSVILLE AL 35803 COL USA RET ARTHUR C PRESIDENT 2568816717 2025-11-14 true true Peter Gubler P00190185 4077405400 2025-11-11 2024 2025-03-06 01:10:19Z COL (USA RET) ARTHUR C 12000 TURNMEYER DRIVE HUNTSVILLE AL 35803 24684861 false X WWW.REDSTONEVILLAGE.ORG X 1994 AL OPERATION OF A CONTINUING CARE RETIREMENT COMMUNITY TO PROVIDE HOUSING AND SERVICES TO THE ELDERLY. 15 15 382 0 0 83000 17547 22893317 24231156 341651 355420 34111 34111 23352079 24638234 0 0 10113092 10500193 0 0 15848655 16927322 25961747 27427515 -2609668 -2789281 74126993 73551980 149269908 151504977 -75142915 -77952997 THE ORGANIZATION'S MISSION IS TO PROVIDE HOUSING, HEALTHCARE, AND RELATED SERVICES TO MEET THE NEEDS OF ELDERLY PERSONS IN THE STATE OF ALABAMA CONTRIBUTING TO THEIR HEALTH, SECURITY, HAPPINESS, AND PHYSICAL AND MENTAL WELL-BEING. false false 23762707 0 24231156 THE ORGANIZATION PROVIDES HOUSING, HEALTHCARE AND RELATED SERVICES TO SENIOR ADULTS THROUGH THE OPERATION OF A CONTINUING CARE RETIREMENT COMMUNITY IN HUNTSVILLE, ALABAMA. THE COMMUNITY CONSISTS OF 127 INDEPENDENT LIVING APARTMENT UNITS, 21 INDEPENDENT LIVING PATIO HOMES, 60 COMBINED ASSISTED LIVING AND CATERED LIVING APARTMENT UNITS, A 48-BED MEMORY SUPPORT ASSISTED LIVING CENTER, AND A 56 BED SKILLED NURSING CENTER. REDSTONE VILLAGE PROVIDES VARIOUS SERVICES TO ITS RESIDENTS, SUCH AS, FOOD PREPARATION AND SERVICE, ACTIVITIES, HOUSEKEEPING, MAINTENANCE AND TRANSPORTATION SERVICES TO CONTRIBUTE TO THE RESIDENTS' HEALTH, SECURITY, HAPPINESS AND PHYSICAL WELL-BEING, WHICH IS THE ORGANIZATION'S EXEMPT PURPOSE. 23762707 true false false false false false false false false false true false false false true true true false false false false false false false false false false false false false true false false false false false false false false false false false false false false false false false false false false true 59 0 true 382 true false false false false false false false false false false false false X 15 15 false true false false false false false true true false false false true true true true true true true true false false AL X Steven DuBose 2568816717 12000 TURNMEYER DRIVE HUNTSVILLE AL 35803 COL RET ARTHUR MEIER II PRESIDENT/TREASURER 2.5 X X 0 0 0 COL RET TOM HOUSER 1ST VICE PRESIDENT 2.5 X X 0 0 0 PATTY ANGLES SECRETARY 0.8 X X 0 0 0 SCOTT SHIFRIN 2ND VICE PRESIDENT 2.5 X X 0 0 0 BILL ANDREWS BOARD MEMBER 2.5 X 0 0 0 ELIZABETH GARCIA BOARD MEMBER 2.5 X 0 0 0 FRED BICKLEY BOARD MEMBER 0.6 X 0 0 0 JACKSON BALCH BOARD MEMBER 0.6 X 0 0 0 JOCELYN CRAIGHEAD BOARD MEMBER 2.5 X 0 0 0 MAC BUTRAM BOARD MEMBER 2.5 X 0 0 0 MARC JACOBSON BOARD MEMBER 10.0 X 0 0 0 MARK VAUGHN BOARD MEMBER 5.0 X 0 0 0 ROSALYNNE STRICKLAND BOARD MEMBER 2.5 X 0 0 0 WALTER BUTLER BOARD MEMBER 10.0 X 0 0 0 WILLIAM SANDERSON BOARD COUNSEL 2.5 X 0 0 0 ANGIE SMITH EXECUTIVE DIRECTOR 40.0 X 0 0 0 AMY REYNOLDS DIRECTOR OF NURSING 40.0 X 132997 0 5226 ANTHONY L JOHNSON SKILLED NURSING ADMINISTRATOR 40.0 X 100737 0 16500 CATINA JOYCETTE RASBERRY- JOHNSO LICENSED PRACTICAL NURSE 59.0 X 132769 0 0 LAUREN PHILLIPS DAVIS DIRECTOR OF SALES/MKTG 40.0 X 114113 0 2700 VICKI NESMITH SKILLED NURSING ADMINISTRATOR 40.0 X 116009 0 9281 596625 0 33707 6 false false false BUILD 256 INC 107 TRES DR HUNTSVILLE AL 35811 RENOVATION SERVICES 1021419 Greenbrier Senior Living LLC 3232 McKinney Ave Suite 1160 Dallas TX 75204 Management Services 670028 Functional Pathways of Tennessee LLC 10133 Sherrill Blvd Suite 200 Knoxville TN 37932 Therapy Services 665454 LARGEN INC 2730 CULLOM BLVD SE OWENS CROSS ROADS AL 35763 LANDSCAPING SERVICES 268120 Turenne PharMedCo 355 Industrial Park Boulevard Montgormery AL 36117 Pharmacy and Consulting Services 245831 5 17547 17547 RESIDENTIAL SERVICES 623000 7799145 7799145 SKILLED NURSING REVENUES 623000 7412762 7412762 ASSISTED LIVING FEES 623000 5856648 5856648 EARNED ENTRANCE FEES 623000 2839266 2839266 OTHER RESIDENT REVENUE 623000 323335 323335 0 0 0 0 24231156 396380 396380 34111 0 34111 0 34111 34111 5667 0 0 46627 5667 -46627 -40960 -40960 0 0 0 0 0 24638234 24231156 0 389531 8830820 7704499 1126321 828761 254616 574145 840612 731332 109280 654366 654366 253204 202958 50246 57841 57841 7971 7971 1111642 1019150 92492 0 175913 175913 341673 27757 313916 1302859 1297717 5142 31634 23636 7998 6532283 6532283 3599577 3583177 16400 790866 393570 397296 SUPPLIES 1975183 1899856 75327 MISCELLANEOUS 92156 92156 EMPLOYEE EXPENSES 154 154 0 0 0 0 27427515 23762707 3664808 0 3973435 4758518 7081249 474074 561335 0 0 0 0 25070 41107 152188 309414 105999790 49701107 58138752 56298683 0 2536745 11004014 0 199000 1795969 160460 168960 74126993 73551980 26204339 27559499 39321884 38382011 83672639 85492249 0 0 71046 71218 149269908 151504977 X -75142915 -77952997 -75142915 -77952997 74126993 73551980 -2789281 -20801 0 X X false true true false X 738695 1486782 83000 17547 2326024 17449663 18019095 20277872 22893317 24231156 102871103 0 0 0 18188358 19505877 20277872 22976317 24248703 105197127 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 105197127 113852 82778 144836 411450 430491 1183407 0 113852 82778 144836 411450 430491 1183407 0 0 0 0 0 0 0 18302210 19588655 20422708 23387767 24679194 106380534 0.98888 0.98856 0.01 0.0088 X Schedule A, Part III, Line 12 Other Income DESCRIPTION - , COLUMN A - , COLUMN B - , COLUMN C - , COLUMN D - , COLUMN E - , COLUMN F - 0; 2271357 2271357 84563714 35790606 48773108 15689290 11575842 4113448 3475429 2334659 1140770 56298683 Federal Income Taxes REFUNDABLE DEPOSITS 71218 71218 X 24609462 -20801 0 -20801 24630263 7971 0 7971 24638234 27419544 0 0 27419544 7971 0 7971 27427515 Schedule D, Part X, Line 2 REDSTONE VILLAGE IS ORGANIZED AS A NOT-FOR-PROFIT CORPORATION UNDER THE LAWS OF THE STATE OF ALABAMA AND HAS BEEN GRANTED RECOGNITION OF ITS TAX-EXEMPT STATUS UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE; ACCORDINGLY, NO INCOME TAX LIABILITY OR PROVISION FOR INCOME TAXES IS REFLECTED IN THESE FINANCIAL STATEMENTS. AS OF DECEMBER 31, 2024, WITH CERTAIN EXCEPTIONS, THE ORGANIZATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY U.S. FEDERAL OR STATE OF ALABAMA TAXING AUTHORITIES FOR ANY TAX YEARS BEFORE DECEMBER 31, 2020. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote REDSTONE VILLAGE IS ORGANIZED AS A NOT-FOR-PROFIT CORPORATION UNDER THE LAWS OF THE STATE OF ALABAMA AND HAS BEEN GRANTED RECOGNITION OF ITS TAX-EXEMPT STATUS UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE; ACCORDINGLY, NO INCOME TAX LIABILITY OR PROVISION FOR INCOME TAXES IS REFLECTED IN THESE FINANCIAL STATEMENTS. AS OF DECEMBER 31, 2024, WITH CERTAIN EXCEPTIONS, THE ORGANIZATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY U.S. FEDERAL OR STATE OF ALABAMA TAXING AUTHORITIES FOR ANY TAX YEARS BEFORE DECEMBER 31, 2020. A Series 2007-Special Care Facilities Fin Auth of City of Huntsville 030494701 447297AL6 2007-05-08 63480000 See Supplemental Information true false false B Series 2008-Special Care Facilities Fin Auth of City of Huntsville 030494701 447297AS1 2008-07-09 9215000 See Supplemental Information false false false C Series 2011-Special Care Facilities Fin Auth of City of Huntsville 030494701 447297AV4 2011-10-05 18330000 See Supplemental Information false false false D Series 2012-Special Care Facilities Fin Auth of City of Huntsville 030494701 447297AY8 2012-11-14 7050000 See Supplemental Information false false false A 8675000 5650250 62818663 415469 0 46897997 1256373 0 0 8598574 0 0 2008 false true true true B 835000 0 9030749 711656 0 0 184252 0 0 8134840 0 0 2009 false false true true C 8115000 0 18002524 2199525 0 0 366600 0 0 13893069 2435370 0 2012 false false true true D 610000 0 6909000 508219 0 0 141000 0 0 6400781 0 0 2013 false false true true A false false false false false false 0 0 0.0 false false 0 false false B false false false false false false 0 0 0.0 false false 0 false false C false false false false false false 0 0 0.0 false false 0 false false D false false false false false false 0 0 0.0 false false 0 false false A false false false true false false 0 true false true Bayerische Landesbank 6.0 true false false B false false false true false false 0 false false false 0 false false false C false false false true false false 0 false false false 0 false false false D false false false true false false 0 false false false 0 false false false A false B false C false D false Schedule K, Part I Purpose of Series 2007 Bonds: In May 2007, the Association issued the Special Care Facilities Financing Authority of the City of Huntsville (the "Authority"), Retirement Facility Revenue Bonds, Series 2007 (the "Series 2007 Bonds"), with yearly principal due in varying installments through January 1, 2043. The proceeds of the Series 2007 Bonds were used to, among other things, refinance the original construction bonds, fund expansion of the independent and assisted living units, fund required reserves, and pay the costs of issuance. The Series 2007 Bonds were collateralized by a first mortgage lien on substantially all property of the Association by a pledge of revenues and by certain assets whose use is limited that are held by a trustee. Schedule K, Part I INFORMATION PERTAINING TO CUSIP OF 2007 SERIES BOND ISSUE: INFORMATION PERTAINING TO CUSIP OF 2007 SERIES BOND ISSUE: The Series 2007 Bond Issue Consists of the Following: CUSIP No. 447297AJ1, $4,940,000 5.25% Term Bonds Due January 1, 2015 CUSIP No. 447297AK8, $15,735,000 5.50% Term Bonds Due January 1, 2028 CUSIP No. 447297AL6, $42,805,000 5.5% Term Bonds Due January 1, 2043 Schedule K, Part II, Row A, Line 3 Additional Information Related to Bond Issuance: The total proceeds for series 2007 bond issue are not identical to the issue price listed in Part I, Column (e), the difference is an underwriters discount of $661,337. Schedule K, Part I Purpose of Series 2008 Bonds In June 2008, the Association issued the Special Care Facilities Financing Authority of the City of Huntsville, Retirement Facility Revenue Bonds, Series 2008 (the "Series 2008 Bonds"), with yearly principal due in varying installments through January 1, 2043. The proceeds of the Series 2008 Bonds were used to finance the construction of the special care assisted living facility ("SCALF"), fund required reserves, and pay the costs of issuance. The mortgage and security agreement with the Authority was amended to include the Series 2008 Bonds as secured obligations and to add the SCALF property to the collateral. The Series 2008 Bonds are also collateralized by a pledge of revenues and by certain assets limited as to use that are held by a trustee. Schedule K, Part I INFORMATION PERTAINING TO CUSIP OF 2008 SERIES BOND ISSUE: The Series 2008 Bond Issue Consists of the Following: CUSIP No. 447297AQ5, $710,000 6.00% Term Bonds Due January 1, 2018 CUSIP No. 447297AR3, $1,730,000 6.75% Term Bonds Due January 1, 2028 CUSIP No. 447297AS1, $6,775,000 6.875% Term Bonds Due January 1, 2043 Schedule K, Part II, Row B, Line 3 Additional Information Related to Bond Issuance: The total proceeds for series 2008 bond issue are not identical to the issue price listed in Part I, Column (e), the difference is an underwriters discount of $128,401. Schedule K, Part I Purpose of Series 2011 Bonds: In September 2011, the Association issued the Special Care Facilities Financing Authority of the City of Huntsville, Retirement Facility Revenue Bonds, Series 2011 (the "Series 2011 Bonds"), with yearly principal due in varying installments through January 1, 2047. The proceeds of the Series 2011 Bonds were used to finance the construction of Phase IV, fund required reserves, and pay the costs of issuance. The mortgage and security agreement with the Authority was amended to include the Series 2011 Bonds as secured obligations and to add Phase IV expansion improvements to the collateral. The Series 2011 Bonds are also collateralized by a pledge of revenues and by certain assets limited as to use that are held by a trustee. Schedule K, Part I INFORMATION PERTAINING TO CUSIP OF 2011 SERIES BOND ISSUE: The Series 2011 Bond Issue Consists of the Following: CUSIP No. 447297AU6, $1,835,000 7.125% Term Bonds Due January 1, 2032 CUSIP No. 447297AV4, $7,550,000 7.50% Term Bonds Due January 1, 2047 CUSIP No. 447297AW2, $7,820,000 5.50% Term Bonds Due January 1, 2017 CUSIP No. 447297AT9, $645,000 6.25% Term Bonds Due January 1, 2022 Schedule K, Row C, Part II, Line 3 Additional Information Related to Bond Issuance: The total proceeds for series 2011 bond issue are not identical to the issue price listed in Part I, Column (e), the difference is an underwriters discount of $327,476, plus additional funds of $497,911. Schedule K, Part I Purpose of Series 2012 Bonds: In November 2012, the Association issued the Special Care Facilities Financing Authority of the City of Huntsville, Retirement Facility Revenue Bonds, Series 2012 (the "Series 2012 Bonds"), with yearly principal due in varying installments through January 2028. The proceeds of the Series 2012 Bonds were used to finance the construction of Phase V, fund required reserves, and pay the costs of issuance. The mortgage and security agreement with the Authority was amended to include the Series 2012 Bonds as secured obligations and to add Phase V expansion improvements to the collateral. The Series 2012 Bonds are also collateralized by a pledge of revenues and by certain assets limited as to use that are held by a trustee. Schedule K, Part II, Line 3 Additional Information Related to Bond Issuance: The total proceeds for series 2012 bond issue are not identical to the issue price listed in Part I, Column (e), the difference is an underwriters discount of $105,750. Schedule K, Part I Purpose of Series 2014 Bonds: In December 2014, the Association issued the Special Care Facilities Financing Authority of the City of Huntsville, Retirement Facility Revenue Bonds, Series 2014 (the "Series 2014 Bonds") to (a) finance the construction for Phase VI and (b) pay the cost of issuance of the Series 2014 Bonds. The Series 2014 Bonds are a construction line-of-credit agreement, and up to $5,795,000 was made available to be drawn through July 1, 2016. The mortgage and security agreement with the Authority was amended to include the Series 2014 Bonds as secured obligations and to add Phase VI expansion improvements to the collateral. The Series 2014 Bonds are also collateralized by a pledge of revenues. Schedule K, Part IV, Line 2c COLUMN A Issuer name: Series 2007-Special Care Facilities Fin. Auth. of City of Huntsville The calculation for computing no rebate due was performed on 05/07/2017 Schedule K, Part IV, Line 2c COLUMN B Issuer name: Series 2008-Special Care Facilities Fin. Auth. of City of Huntsville The calculation for computing no rebate due was performed on 09/26/2014 Schedule K, Part IV, Line 2c COLUMN C Issuer name: Series 2011-Special Care Facilities Fin. Auth. of City of Huntsville The calculation for computing no rebate due was performed on 10/04/2016 A Series 2014-Special Care Facilities Fin Auth of City of Huntsville 030494701 2014-12-22 5795000 See Supplemental Information false false false A 563219 0 5795000 0 0 0 115900 0 0 5679100 0 0 2016 false false true true A false false false false false false 0 0 0.0 false false 0 false false A false false false true false false 0 false false false 0 false false false A false Form 990, Part VI, Line 15 PROCESS TO ESTABLISH COMPENSATION THE EXECUTIVE DIRECTOR IS AN EMPLOYEE OF THE ORGANIZATION'S MANAGEMENTCOMPANY, GREENBRIER SENIOR LIVING, LLC. HOWEVER, THE EXECUTIVE DIRECTOR IS DEEMED TO BE AN OFFICER OF THE ORGANIZATION DUE TO HIS OR HER ROLE AS THE TOP MANAGEMENT OFFICIAL. THE ORGANIZATION'S COMPENSATION COMMITTEE DETERMINES AND APPROVES THE EXECUTIVE DIRECTOR'S COMPENSATION. ADDITIONALLY, THE EXECUTIVE DIRECTOR IS SUBJECT TO PEER REVIEW AS PART OF THE ANNUAL ASSESSMENT PROCESS. Form 990, Part VI, Line 3 Delegation of management duties REDSTONE VILLAGE ENTERED INTO A BOARD-APPROVED MANAGEMENT SERVICES AGREEMENT WITH GREENBRIER SENIOR LIVING, LLC. UNDER THE TERMS OF THIS AGREEMENT, THE MANAGEMENT COMPANY IS RESPONSIBLE FOR THE GENERAL DAY-TO-DAY OPERATING ACTIVITIES FOR THE FILING ORGANIZATION. DURING THE CURRENT YEAR, GREENBRIER SENIOR LIVING, LLC COMPENSATED THE ORGANIZATION'S EXECUTIVE DIRECTOR $219,851 FOR SERVICES RENDERED TO THE FILING ORGANIZATION. Form 990, Part VI, Line 11b Review of form 990 by governing body THE ORGANIZATION'S FINANCIAL DIRECTOR CONDUCTS A COMPREHENSIVE REVIEW OF THE FORM 990 BEFORE IT IS FILED. A COPY OF THE RETURN IS PROVIDED TO EACH VOTING MEMBER OF THE BOARD OF DIRECTORS BEFORE IT IS FILED WITH THE IRS. Form 990, Part VI, Line 12c Conflict of interest policy ALL EMPLOYEES RECEIVE THE CONFLICT OF INTEREST POLICY IN THE EMPLOYEE HANDBOOK. IN ADDITION, THE BOARD OF DIRECTORS HAS ITS OWN CONFLICT OF INTEREST POLICY, WHICH IS REVIEWED ANNUALLY. THE EMPLOYEE HANDBOOK IS REVIEWED AND UPDATED ANNUALLY AND PROVIDED TO ALL EMPLOYEES FOR REVIEW. MANAGEMENT MONITORS ANY POTENTIAL CONFLICTS OF INTEREST THROUGHOUT THE YEAR AND RESPONDS ACCORDINGLY. Form 990, Part VI, Line 19 Required documents available to the public THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTERESTPOLICY AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST. THE FINANCIAL STATEMENTS ARE ALSO AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST AND POSTED TO THE EMMA NATIONAL INFORMATION REPOSITORY. Form 990, Part XII, Line 2c Change of oversight process or selection process OVERSIGHT OF AUDIT: THE BOARD OF DIRECTORS HAS RESPONSIBILITY FOR OVERSIGHT OF AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.